January 20, 2024 1:51 PM | 2 min read
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Sam Altman, the CEO of OpenAI, is reportedly in talks with global investors to secure funds for a network of semiconductor factories.
Altman aims to address chip shortages for AI applications, planning a global network of fabs, Bloomberg reported, citing several people with knowledge of the plans.
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Conversations with potential investors, including Abu Dhabi-based AI company G42 and Softbank Group Corp (OTC:SFTBF), are ongoing, signaling a shift from the common AI industry practice.
Altman’s concerns about chip scarcity amid growing AI demand have intensified the urgency to raise billions for this innovative venture.
Also Read: Microsoft Strengthens Partnership With G42 For Cloud, AI Tools Inclusion
Altman’s fundraising efforts signify a departure from industry norms, with a focus on chip fabrication plants, the report added.
The ambitious plan, involving partnerships with top chip manufacturers, seeks to secure the needed supply for AI by the end of the decade.
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Intel Corporation (NASDAQ:INTC), Taiwan Semiconductor Manufacturing Company Ltd. (NYSE:TSM), and Samsung Electronics Co (NASDAQ:SSNGY) lead the chip fabrication market and are potential partners for OpenAI, Bloomberg reported.
Also See: Taiwan Semi Announces Major Global Expansion and Capital Investment Plans for 2024 After Q4 Beat
Altman, driven by the soaring interest in AI applications, reportedly believes immediate action is essential.
While construction of a single fab demands substantial investment, the talks with G42 alone explored raising $8 billion to $10 billion.
The industry awaits further developments as Altman positions OpenAI at the forefront of ensuring an adequate chip supply for the AI-driven future, the report added.
This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo: Shutterstock
Options 101: The Beginner’s Guide
Want to become an options master? In his free report, options expert Nic Chahine will give you access to the four bulletproof tips for beginners, the secret to scoring 411% gains with options, and his time-tested “plan” for success. Grab your free copy of Options 101: The Beginner’s Guide ASAP.
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